Buyers tell Realtors all the time that they don’t like the photos, or that the house in question looks too dated, cluttered, small, or messy to consider. It may be in their price range and have all the features the buyer is looking for, but that first visual impression is crucial to catching the buyer’s attention and sparking their serious interest in a property.

Every homeowner works hard to personalize their home, to make it their home. It’s only human nature. But a buyer is looking at photos or walking through a showing trying to imagine personalizing your home to their tastes, their needs. A home with a strong personal style, outdated (no matter how lovely) décor, or a ton of mess and clutter is going to make it difficult for the buyer to picture themselves living there. So they don’t. They move on to another, more sale-ready home. Ultimately, these problems can lower the price you charge for your home. This is an issue that affects your bottom line!

A Home Stager can do two things for you. If you’ve already moved out, they can rent a few key pieces of furniture and knickknacks to make your empty house feel livable, thus encouraging a higher price. Or, more commonly, the Stager walks through your home taking notes of various changes she thinks would bring a higher price or make your home more attractive to buyers. This can be hard on you, especially since her goal is to de-personalize your lovingly decorated home! But it can earn a higher selling price.

Here’s the basics of Staging a home:

Get rid of clutter. The ultimate goal is to make it look like either a model home, or a magazine ad. Surfaces should be clear of clutter, floors should only have furniture and throw rugs, and your brother’s beer can collection needs to be put in storage for the duration of the sale.

Remove as much personality as you can. The stuff that makes your home yours is the stuff to put into storage for now. Family photos, collections, posters, unusual art, and even extra furniture can be stored during the sale process to make your home look cleaner, larger, and more inviting. This can even include painting a neutral color over that bright red accent wall or stenciled vine. Heartbreaking to undo what you did with love, but important to show your home well.

Clean, clean, clean. Remove any dirt or grime. Have the carpets professionally cleaned. Scrub the bathtub and replace any mildewed caulk. And if a wall is too dirty to wash? Paint it over. Your house needs to look as like a model home. And it doesn’t hurt to bake something right before a showing to make your house SMELL as good as it looks. (Take kids, pets, and litter boxes with you when you leave the house for a showing…it make a big difference.)

Update or repair problem areas. This can get a little pricey, but a good stager and your Realtor can tell you where you can get the most bang for your buck by renovating. It may be as simple as painting a bright wall neutral again, or it may be replacing torn carpet, or even remodeling a dated kitchen or bath. Perhaps spiffing up your curb appeal with some quick and simple landscaping. It’s worth hearing a neutral opinion before choosing what to work on and what must be “as is”.

Ask your Realtor for the name of a good Stager, or do a simple internet search. If you’d rather get your Realtor’s advice on what to change and try to stage your home yourself, click here to get a great Staging To Do List to get you started!

Go out there and sell something today.

MORTGAGE TIP OF THE DAY:
As you hopefully noticed yesterday the First Time Homebuyer Bond money went down to 4.25% with 1% Origination fee. For those sharp Realtors out there, you probably noticed that the regular FHA loan is a BETTER deal than the Bond Money, and that is true. The only exception is for those borrowers who have ALMOST no money. There is an option available where OHFA will give the borrower 2.5% of the 3.5% down. All the borrower needs to come up with is the 1%. Have the seller pay the closing costs, close near the end of the month along with the tax proration credit and the borrower can get away with little at closing. The rate is, however, .50% higher (4.750%)

THOUGHT OF THE DAY:
Real success is more of an inward feeling than an outward show.

TODAY’S FUN FACT:
Mary Westmacott was the pen name of Agatha Christie when she was writing romantic novels.

Rates: Tuesday, September 14, 2010, 10:15am

Loan Program Rate: APR*: Payment Estimates:

30 Year Fixed 4.250% (-.125) 4.338% $491.94 Interest and Principal
• Purchase or rate and term refinance

30 Year Fixed 4.375% (-.125) 4.464% $499.59 Interest and Principal
• Cash out refinance***

15 Year Fixed 3.750% (same) 3.903% $727.22 Interest and Principal
• Purchase or rate and term refinance

15 Year Fixed 3.875% (same) 4.029% $733.44 Interest and Principal
• Cash out refinance***

Bond Money 4.250% (same) 5.453% $555.77 Int. & Princ. & Mtg Ins.
• First Time Homebuyer Bond Money + 1% origination fee

FHA Fixed 4.250% (same) 4.839% $546.39 Int. & Princ. & Mtg. Ins.
• Purchase or refinance

Jumbo Fixed 5.750% (same) 5.846% $2,439.32 Interest and Principal
• 30 Year Purchase and Refinance over $417,000

3/1 ARM** 3.875% (same) 4.423% $510.50 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $510.60 in 3 years (4.375% interest rate) if the rate were to adjust based on the current index rate

5/1 ARM** 4.250% (same) 4.496% $491.94 Interest and Principal
• Up to $1,000,000 purchase or refinance. Payment would adjust to $498.32 in 5 years (4.375% interest rate) if the rate were to adjust based on the current index rate

LEGAL STUFF

• *APR – Annual Percentage Rate
• **ARM – Adjustable Rate Mortgage (rate may increase after consummation of the loan)
• ***Cash out refinance – Refinance means pulling out at least $2,000 or more or paying off a non-purchase second mortgage

All payments estimates above do not include amounts for property taxes and homeowner’s insurance premiums and your actual payment obligation will be greater.

Annual Percentage Rates and Payment Estimates quoted are based on a $100,000 loan amount except the 5/1 ARM, and Jumbo fixed loan amount is $418,000 and 20% down payment with the exception to the FHA and OHFA quotes which are based on a 3.5% down payment.

Qualifying Assumptions (unless otherwise noted): 45 day rate lock, $100K-$417K loan amount, credit scores 740+, Owner-occupied Purchase or rate/term refinance. Cash-out refinances (including paying off a non-purchase 2nd mortgage) could result in a slightly higher interest rate. The interest rates quoted are to serve as a guide only and may be different based on specific loan features. Please call for a specific quote.

We CANNOT lock in an interest rate on a loan with a voicemail or email. The customer MUST talk to the loan officer over the phone or in person before it can be confirmed. The market changes too frequently.
We recommend calling during business hours to make sure we have all the markets open and available.

ON THIS DATE IN HISTORY:
On this date in 1814 Francis Scott Key wrote the words to the national anthem. The melody of “The Star-Spangled Banner” comes from an old English drinking song, “Anacheron in Heaven”.

Stephen Wagner
Mortgage Lender since 1974
The Arlington Bank
4621 Reed Road
Columbus, OH 43220
Office: 614-486-9104
Cell: 614-271-0888
Fax: 614-486-4078

Let is snow, let it snow, let it snow! It is *Warm & Cozy* inside this fabulous home.

The Real Estate Market in Columbus is hot, hot, hot! Sue Lusk-Gleich reminds us that affordability, in terms of phenomenal interest rates in combination with home prices, is excellent! Remember that Real Estate is local, so forget the national news reports…it doesn’t apply to our market.  It’s an especially great time for 1st time buyers who aren’t encumbered by selling a property prior to purchasing a new home.  Say bye-bye to your landlord and let’s go look for your new home! Carpe Diem